ONE Corporation provided the following information: January 1 December 31 Fair value of plan asset Market related value of plan assets Contribution to the plan Benefits paid to retirees P 3,500,000 P 3,900,000 2,900,000 280,000 250,000 2,800,000
ONE Corporation provided the following information: January 1 December 31 Fair value of plan asset Market related value of plan assets Contribution to the plan Benefits paid to retirees P 3,500,000 P 3,900,000 2,900,000 280,000 250,000 2,800,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Show the solution in good accounting form. Thank you!
1. What is the actual return on plan assets for the current year?
a. ₱ 100,000
b. ₱ 430,000
c. ₱ 370,000
d. ₱ 400,000
![ONE Corporation provided the following information:
January 1
December 31
P 3,500,000 P 3,900,000
Fair value of plan asset
Market related value of plan assets
Contribution to the plan
Benefits paid to retirees
2,800,000
2,900,000
280,000
250,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F89447a00-8967-4faf-bc28-666886ee0a66%2F80e738b7-f4cf-469c-a94a-891cd9566176%2Fl5lf839_processed.png&w=3840&q=75)
Transcribed Image Text:ONE Corporation provided the following information:
January 1
December 31
P 3,500,000 P 3,900,000
Fair value of plan asset
Market related value of plan assets
Contribution to the plan
Benefits paid to retirees
2,800,000
2,900,000
280,000
250,000
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